All good and all true but how may levels of luminance can the eye detect? How many can be printed ? how many show on a computer screen? 256 or 4000?
Tell me if I am wrong but when we lightroom our large/basic optimal compression jpegs ... say 3mb and we come to save them we set max to 5mb so when saved are not furthur compressed ....did we degrade the image ??
The only one that
really matters, is the print.
When using JPEG, we sometimes need to recover "lost" highlights or shadows, (I put lost in quotes because when we say lost we generally mean barely recognisable. Blown being actually lost highlights)
In a Jpeg, we can recover some "lost" detail but the recovered area is of questionable quality, even with a quality JPEG, and if the area is changing colour or luminance gradually it is likely to suffer banding or posterization.
With Raw we have so many more levels that we don't suffer the same fate, smooth and silky gradients with
much heavier adjustments than a JPEG can take.
Print both the modified JPEG (not talking about lightly modified here) and modified Raw saved as a Jpeg. so now both images have the same 256 levels.
The Raw edited version looks like the photo came straight from the camera. The Jpeg has clearly suffered.
With very little or no "lost" details in the original, the photos will look great whether originally shot as JPEG or Raw.
If you can nail exposure every time without going over or under in the same photo (not always possible even for a pro)
Use reflectors or flashes for the shadowed side of your subjects.
Nail white balance under varied lighting every time.
You don't need Raw.
For anyone human
and using a camera that simply cannot cope with the dynamic range of our real world, either use Raw or accept the lower quality photos you will end up with in print, when the photo is not one to use straight out of the box.